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What goes up...: Property prices fall 0.5pc in December

The latest CSO figures show the residential market nationwide fell 4.5pc in 2012 – the smallest decline since 2007.

Image: Eamonn Farrell/Photocall Ireland

NEW FIGURES published by the Central Statistics Office show that the asking price for the average domestic property in Ireland fell by 0.5 per cent in December.

The figures also show that the average property shed 4.5 per cent of its value in 2012 – the slowest annual rate of decline since 2007, and the smallest 12-month fall since the year ending May 2008.

The monthly fall compares to an increase of 1.1 per cent in November, and a drop of 1.7 per cent in December of 2011.

Residential prices in Dublin fell by 1.3 per cent in December, but having had a mixed year, stand only 2.5 per cent lower than their prices at the end of 2011.

Apartment prices, though falling 10.9 per cent in the year, rose by 3.7 per cent in December alone. Houses prices in the city fell by 1.7 per cent in December, and have fallen over 12 months by the same amount.

Outside the capital, residential prices fell by 1.1 per cent, meaning a 6.1 per cent fall over the course of 2012.

Read: You asked, we answered: What you wanted to know about the property tax

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Gavan Reilly

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